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So yesterday we hit 2 of our targets. First was retracement target and second, was our main short term target which was on the top of the rising wedge at 3585 sats .
At the time of writing, we're at the retracement again and in this post, I will give you an idea on key levels to watch.
1. At the moment the price is increasing. The key level to watch is at 3544 sats . If XRP will break this level the further leg up is expected, otherwise we can expect another drop up to the 3412 sats .
2. If this will be a case the 3412 sats would be a crucial level to watch. As long as XRP will stay above this level would be ok. Otherwise, we can expect to test the lower line of the rising wedge at around 3260 - 3300 sats .
We just need to wait and see what will be happening next.
Hope this TA will help you and thank you in advance for all your likes :-)
So yesterday we hit 2 of our targets. First was retracement target and second, was our main short term target which was on the top of the rising wedge at 3585 sats .
At the time of writing, we're at the retracement again and in this post, I will give you an idea on key levels to watch.
1. At the moment the price is increasing. The key level to watch is at 3544 sats . If XRP will break this level the further leg up is expected, otherwise we can expect another drop up to the 3412 sats .
2. If this will be a case the 3412 sats would be a crucial level to watch. As long as XRP will stay above this level would be ok. Otherwise, we can expect to test the lower line of the rising wedge at around 3260 - 3300 sats .
We just need to wait and see what will be happening next.
Hope this TA will help you and thank you in advance for all your likes :-)
Comment:
XRP still did not draw the higher high. Now we have a double top, which is not the good sign. If it falls below 3500 sats and stays there, it can then fall to 3412 - 3300 sats.if this would be a case I will close my position and enter the market again at 3412 or 3300 sats.
Be careful
Be careful
Comment:
Price action looks exactly the same as it was 2 weeks ago. Probability to reach 3412 and then 3300 sats are now increasing. We still need a higher high which was at 3585 sats
The picture is unclear at the moment and many things can happen.
On the one side, we recorded lower high and if it fals below 3464 sats we will record a lower low, which can lead us to 3412 sats or even lower.
On the other side, at the hourly timeframe, xrp drew higher high and higher low and the price is currently rising.
The moment of truth will come soon and if the current rise exceeds 3544 sats price level, another higher high can emerge. If it's rejected at this price level and fals below 3500 sats, then further drop is expected towards the 3412 sats price level.
3412 sats is the first serious support line. The next one is at around 3300 sats.
Pay attention to:
-3544 sats - if exceeds this value the rise will continue
-3500 sats - if it falls below this level the drop will continue